The Financial Services Council (FSC) of New Zealand has welcomed three new additions to its board, in addition to announcing steady growth of the financial sectors across Aotearoa.
According to a news release, five members have been re-elected, five will be continuing their tenure, while three newcomers have been announced.
FSC board members:
The FSC also announced its farewell to departing chair Rob Flannagan as he is set to exit by the end of the year.
Besides the board shakeup, the FSC’s annual general meeting (AGM) for 2023 also unveiled robust industry growth and significant policy advancements.
Over the preceding 12 months, the financial sector played a pivotal role in overseeing funds exceeding $95 billion for New Zealanders while disbursing claims amounting to $2.8 billion within life and health insurance domains.
Also noteworthy is the persistent surge in FSC membership, which has now reached 117 organisations (as of October 2023). This includes a diverse array of entities such as life, health, disability, and income insurance providers, fund managers, KiwiSaver, and workplace savings schemes—incorporating restricted schemes—alongside professional service and technology providers serving the financial services sector.
“The work the FSC does continues to bring financial literacy into conversations, whether it’s with government, members, or consumers. The strong growth of our membership signals the sector's commitment to grow New Zealanders' financial wellbeing,” FSC CEO Richard Klipin said.
During an online panel discussion held earlier this month, the FSC also reminded its members of the organisation’s Code of Conduct in a dedicated event examining the standards and how to apply them.
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